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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current Assets    
Cash $ 336,151 $ 1,106,624
Accounts receivable, net 436,025 97,448
Product deposit 281,143 150,000
Inventory, net 808,846 950,059
Other current assets 328,922 442,971
Total Current Assets 2,191,087 2,747,102
Non-current assets    
ROU Asset 19,990 23,625
Capitalized Software, net 305,576  
Intangible assets, net 507,646 675,452
Total non-current assets 833,212 699,077
Total Assets 3,024,299 3,446,179
Current Liabilities    
Accounts payable and accrued expenses 5,789,399 3,051,156
Notes payable, net 1,070,945 814,734
Contract liabilities 303,670 109,552
Total Current Liabilities 7,164,014 3,975,442
Long-term Liabilities    
Lease Liability 28,917 29,978
Contingent consideration on purchase of LegalSimpli 100,000 500,000
Liability to issue common stock 540,972
Deferred tax liability 70,000 70,000
Total Liabilities 7,903,903 4,575,420
Stockholders’ Equity (Deficit)    
Common stock, $0.01 par value; 100,000,000 shares authorized, 71,063,440 and 53,404,045 shares issued, 70,548,248 and 52,888,845 outstanding as of June 30, 2020 and December 31, 2019, respectively 710,631 534,037
Additional paid-in capital 18,747,862 15,236,396
Accumulated (deficit) (23,705,170) (16,594,917)
Equity (4,246,675) (824,484)
Treasury stock, 515,200 and 515,200 shares, at cost (163,701) (163,701)
Total Conversion Labs, Inc. Stockholders’ (Deficit) (4,410,376) (988,185)
Non-controlling interest (469,226) (141,056)
Total Stockholders’ (Deficit) (4,879,602) (1,129,241)
Total Liabilities and Stockholders’ (Deficit) $ 3,024,299 $ 3,446,179